https://www.taxtmi.com/caselaws?id=61017 The Tribunal upheld the penalty imposed under Section 271(1)(c) of the Income-tax Act, 1961, amounting to Rs. 22,600 for the assessment year 1976-77. The penalty was affirmed due to the introduction of unexplained cash credit of Rs. 21,600 in the assessee's books, with the Tribunal finding that the entries were deliberately false and made to conceal income. The Tribunal dismissed the appeal, confirming the validity of the penalty proceedings and the applicability of penalty provisions to deemed income under Section 68, ultimately upholding the penalty decision. en-us Sat, 28 Jul 1984 00:00:00 +0530 Mon, 10 Jan 2011 13:45:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61017 The Tribunal upheld the penalty imposed under Section 271(1)(c) of the Income-tax Act, 1961, amounting to Rs. 22,600 for the assessment year 1976-77. The penalty was affirmed due to the introduction of unexplained cash credit of Rs. 21,600 in the assessee's books, with the Tribunal finding that the entries were deliberately false and made to conceal income. The Tribunal dismissed the appeal, confirming the validity of the penalty proceedings and the applicability of penalty provisions to deemed income under Section 68, ultimately upholding the penalty decision. Case-Laws Income Tax Sat, 28 Jul 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61017